Staking for ETHIndia 2022 Explained 🛠

To confirm presence at the hackathon, builders need to stake some amount of ETH or INR, which will be completely refunded post the hackathon. Read on to understand the Whys, the Hows, and the reason we’ve introduced staking.

Staking for ETHIndia 2022 Explained 🛠

About ETHIndia 2022

ETHIndia 2022 is the garden where 1500+ builders will join forces to build a decentralised future, one where everyone is a self-sovereign owner. Since its beginning in 2018, ETHIndia has helped launch Web3 in India, onboard builders who are doing remarkable work and fostering a community of Ethereum believers. We, as the coordinators, want to ensure that the builders’ hackathon journey is delightful, frictionless, and fair throughout.

How does staking for ETHIndia 2022 work?

Staking involves accepted builders locking up some amount of currency as collateral to confirm their presence at the hackathon. For ETHIndia 2022, builders need to stake 0.01 ETH or INR 1000 or USD ~12, which will be fully refunded to them post the hackathon. They will be required to stake within 7 days from acceptance, post which staking or attending the hackathon will not be possible.

Why are we introducing staking?

  • To ensure that we aren’t unfair to the applicants who couldn’t be selected due to strong competition and limited capacity.
  • To prevent the wastage of resources that have been set aside for each hacker.
  • To get an accurate understanding of the number of builders planning on attending the event so that under or over-estimation of resources can be avoided.

How do I stake to confirm my presence?

Once accepted, the builders can stake and confirm their presence using their Devfolio dashboard via:  https://devfolio.co/ethindia2022/dashboard

Here’s Daksh from our team giving a demo on how staking for ETHIndia 2022 works.

Notes to bear in mind:

  • All the accepted builders are required to stake 0.01 ETH or INR 1000 or USD ~ 12. In the case of teams, each team member needs to stake individually. E.g. If a team has 5 members, all 5 members, individually, need to stake the 0.01 ETH or INR 1000 or USD ~ 12.
  • The deadline to stake is 7 days from the day of acceptance, with a timer showing the countdown on the dashboard.
  • Staking or attending the hackathon will not be possible once the staking deadline, as per the dashboard, is over.
  • When the builders successfully submit a hackathon project, a full refund will be initiated within 2 weeks post the hackathon (in the currency used while staking).
  • Submitting a hackathon project is a prerequisite to getting a refund. If a builder is unable to attend the hackathon after staking, unfortunately, they’ll not be eligible for a refund.

Please feel free to reach out to us at help@devfolio.co in case of questions, concerns, or any other difficulties.

Staked already? Join the ETHIndia 2022 Discord to stay informed about future updates: https://nsb.dev/ethindia-discord (Accessible only when staking is successful)

Until then, Get Ready to Build 🛠